While Valve may be working with Apple on some kind of secret project, they won't be announcing any kind of "Steam Glasses" according to Valve researcher Michael Abrash.
To be clear, this is R&D – it doesn't in any way involve a product at this point, and won't for a long while, if ever – so please, no rumors about Steam glasses being announced at E3. By 'wearable computing, I mean mobile computing where both computer-generated graphics and the real world are seamlessly overlaid in your view; there is no separate display that you hold in your hands (think Terminator vision)." - Michael Abrash, Valve
So in other words, Valve have plenty of cash to splash and Abrash is researching a form of computing that doesn't really exist yet. Let's see what he comes up with over the next couple of years.
By Stephen Heller - Tweet @Heller_MMGN